United States, October 13, 2025
News Summary
Trimble has acquired Flashtract, bringing the billing and compliance platform into its broader project and finance toolset while integrating the Flashtract team and product into Trimble’s payments and ERP workflows. All 24 Flashtract employees will join Trimble to support customer migrations and product integration. Separately, Speedchain raised $111 million in debt and equity to expand its construction-focused card and spend management platform, addressing persistent challenges around tracking receipts and reconciling costs across job sites. The moves underscore consolidation and investment in construction software and fintech solutions that bridge project management and accounting systems.
Trimble buys Flashtract; Speedchain raises $111 million
Flashtract has been acquired by Trimble (NASDAQ: TRMB). The deal brings a focused construction billing product into a larger suite of project and finance tools and will fold product and team resources into Trimble’s payments and ERP integrations. Financial terms of the Trimble–Flashtract deal were not disclosed.
All 24 Flashtract employees will join Trimble as part of the acquisition. The Flashtract team will move into Trimble to support product integration and customer migrations.
In another development in construction technology finance, Speedchain raised $111 million in debt and equity. Speedchain is a construction-focused card and spend management platform. Daniel Cage is CEO of Speedchain. Daniel Cage provided exclusive comment about the $111 million raise. The raise targets a common pain point in construction finances: construction firms’ finance teams often struggle to track receipts and reconcile costs in real time across multiple job sites.
Why the Trimble–Flashtract deal matters
Flashtract’s product focuses on turning manual billing and compliance steps into a continuous digital workflow. Flashtract automates lien waiver collection, supports digital signatures, provides insurance tracking, and tracks diversity and inclusion information. The platform generates application for payment documents, lien waivers and other compliance documents through configurable approval workflows.
Users input percent complete, work completed this period, or materials stored and Flashtract uses those inputs to generate pay applications and compliance documents. Flashtract validates submitted numbers against the agreed scheduled value and issued change orders to reduce risk of overbilling. The software performs calculations such as retainage and payment due on behalf of subcontractors in real time. General contractors can flag specific line items for revision and subcontractors can adjust and resubmit with a few clicks.
For a majority of customers, Flashtract pulls data directly from the customer’s ERP or project management software through existing integrations. Flashtract imports contract details from contracts to define liquidity events and eliminate manual entry. Where strict control is needed, Flashtract provides easy-to-use templates for batch uploads. Flashtract has a Customer Success and Onboarding team that provides ad-hoc training, answers questions and assists with data migrations.
Flashtract offers Flash Prime (for general contractors) and Flash Specialty (for subcontractors) products. These products help protect cash flow for users despite payment delays. Flashtract positions itself as a point solution focused on the billing/payment bridge between project management and accounting systems.
Product links and integrations
Flashtract integrates with Procore using Procore’s APIs and is available on the Procore marketplace. Flashtract planned to implement Procore web hooks to provide customers with more automation. Flashtract has partnered with Ryvit (an iPaaS vendor) to provide automated integration experiences for ERPs like Viewpoint Vista and Sage 300 CRE. Flashtract embedded financing options (white-labeled from Lendflow) starting in November 2021. The Lendflow lending option was a white-labeled offering used by Flashtract and had been similarly used by Levelset and Procore previously.
Background and business model
Flashtract officially launched in 2020. Flashtract raised a $15 million Series A in early 2022. The $15 million Series A was led by Addition and Shine Capital. Prior to acquisition, Flashtract had grown a reputation in the construction industry for streamlining payments and compliance information between general contractors and subcontractors.
Flashtract charges a SaaS fee for ongoing product enhancement. Flashtract also charges a fee based on annual approved pay applications. Flashtract frequently releases features across all customer tiers to optimize processes and reduce cycle time for approving pay applications. Embedding financing and commerce on platforms is a route to generate revenue not tied directly to software delivery effort. Value-based pricing and transaction-volume pricing models are trends in SaaS, with metered transactions or negotiated pricing based on projected benefits.
Industry context and the Southeast tech market
The market for application-for-payment software, construction accounting software and construction ERP is maturing and consolidating. Application for payment is a challenging business process for both general contractors and subcontractors. Competing point solutions also target application-for-payment workflows.
Since COVID, the Southeast U.S. construction technology sector has seen a rush of funding and acquisition activity. Examples from the region include a $30 million Series B for an Atlanta sustainable construction startup, a $190 million round for a North Carolina company, a $21 million Series A for another North Carolina startup, a $5 million raise for a Florida firm in 2022, and a past acquisition of a New Orleans-based company by a leading ERP vendor for $500 million.
Wider industry pressures and operational notes
The construction industry continues to deal with a skilled labor shortage, increased costs and supply chain pressures. Specific long lead times include generators, transformers, certain types of wiring, and stainless steel tubing. One major contractor group uses long-term strategic planning, manufacturer relationships, and logistics models like early ordering and flexible storage to mitigate supply problems.
Construction employment is at an all-time high for that contractor group. Inflation is decreasing month over month and growth is anticipated in the construction industry over the next 12 to 24 months, with a strong pipeline into 2026. That contractor pursues sustainable practices and green building efforts, is tracking LEED and WELL Building Standard certifications on projects, and reports jobsite waste diversion rates between 85% and 96% on projects.
The rise of specialty point solutions has increased choice but also raised complexity for buyers. There is a market push for consolidation to reduce the number of point solutions contractors must buy and implement. Flashtract launched multiple products and services over the prior year to solve multiple problems in a single solution and to act as the bridge between accounting and project management systems.
FAQ
Q: Was Flashtract acquired?
A: Flashtract has been acquired by Trimble (NASDAQ: TRMB).
Q: How many Flashtract employees are moving to Trimble?
A: All 24 Flashtract employees will join Trimble as part of the acquisition.
Q: What did Speedchain raise?
A: Speedchain raised $111 million in debt and equity.
Q: What is Speedchain?
A: Speedchain is a construction-focused card and spend management platform.
Q: Why does the Speedchain raise matter?
A: construction firms’ finance teams often struggle to track receipts and reconcile costs in real time across multiple job sites.
Q: What products does Flashtract offer?
A: Flashtract offers Flash Prime (for general contractors) and Flash Specialty (for subcontractors) products.
Q: How was Flashtract funded?
A: Flashtract raised a $15 million Series A in early 2022.
Q: Were the financial terms of the Trimble–Flashtract deal disclosed?
A: Financial terms of the Trimble–Flashtract deal were not disclosed.
Key features at a glance
| Feature | Flashtract | Speedchain |
|---|---|---|
| Primary function | Billing automation, lien waivers, compliance workflows | Card and spend management for construction |
| Launch / founding | Officially launched in 2020 | — |
| Recent funding / acquisition | Acquired by Trimble (NASDAQ: TRMB); Financial terms of the Trimble–Flashtract deal were not disclosed | Speedchain raised $111 million in debt and equity |
| Team | All 24 Flashtract employees will join Trimble as part of the acquisition | — |
| Integrations | Procore integration; partnerships with Ryvit; ERP links like Viewpoint Vista and Sage 300 CRE | Designed to help finance teams track receipts and reconcile costs across job sites |
| Revenue model | SaaS fee plus fee based on annual approved pay applications; embedded financing | Likely subscription and transaction-based spend controls (platform focus) |
Deeper Dive: News & Info About This Topic
Additional Resources
- Axios Pro: Speedchain raises $111 million
- Wikipedia: Construction finance
- Hypepotamus: Flashtract acquisition (2024)
- Google Search: Flashtract acquisition 2024
- ForConstructionPros: Why constructech vendors like Flashtract are attracting capital
- Google Scholar: constructech vendors Flashtract
- Construction Dive: DPR Construction Atlanta supply chain
- Encyclopedia Britannica: Supply chain
- The Malaysian Reserve: Kleinknecht Electric goes live on SIS CRM for construction
- Google News: construction CRM
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